The organisation said Newton Investment Management, the Environment Agency Pension Fund, RPMI Railpen and Eden Tree Investment Management have also signed up to the pledge to vote against board appointments at firms showing no progress.

The 30% Club held a roundtable event at the London Stock Exchange headquarters this morning to discuss issues around female representation.

This isn’t a social or equality issue, this is very much a financial and a profitability issue. And, from the fund managers’ standpoint, a real stewardship and governance issue.

Because the sense is that from all the research we see, we believe feel that boards that encourage cognitive diversity through appropriate gender representation, a broad spectrum of skills and experience, will get a better ultimate outcome for investors, and certainly a better long-term, sustainable outcome.